As Rolling Stonecelebrates its 40th anniversary (and celebrates, and celebrates), Business Week's Jon Fine discovers that 62-year-old founder Jann Wenner has no plans for succession. "I haven't thought about it all," Wenner told Fine. Selling the company is "not inconceivable," he says. But "it's not on the table now." In his column, what Fine finds inconceivable is the Rolling Stone's own staying power. It "astounds" the media critic that a magazine with no emphasis on the Web and a baby-boomer focus manages to have such a cache with advertisers. But as Wenner ages, who will his mini-empire of RS, Men's Journal, and Us Weekly pass to? A sale would sock Wenner and his estranged wife, Jane, with massive capital-gains taxes, Fine argues, so they're unlikely to want to sell. In other words, what we expected all along will probably come to pass. Wenner will never let go of Rolling Stone until he is 90 years old and the magazine has to run shots of Bruce Springsteen's grave to keep up its annual Boss cover quota.
The Last Tycoon of Print [Business Week]
Related:The Odd Couple [NYM]

Former Men's Fitness editor and Jann Wenner paramour Neal Boulton calls up "Page Six" to tell them that he is getting harassed for being "too straight." Harvey Weinstein said he uses Vogue and Anna Wintour to help style his films. The Box is about to implement a security system designed by Safir Rosetti, which is run by former police commissioner Howard Safir. 50 Cent may perform at Times Square on New Year's Eve. Salman Rushdie dressed up as Darth Vader on Halloween and had to fend off chicks with his light saber. Fox News correspondent Chris Wallace complained that only 39 American soldiers died in Iraq in October 2007, the fewest deaths in a month since 2004.

James Mackenroth, a contestant on the upcoming season of Project Runway, may have been voted off in part because of a staph infection made worse by his HIV. Sarah Jessica Parker and Jennifer Hudson filmed a scene for the Sex and the City movie together at the Carlyle Hotel, and SJP gave JHud a CD! A-Rod and Martha Stewart posed for photos together at Nobu 57. Contrary to a previous "Page Six" report, attendees at the Rolling Stone reunion in San Francisco actually did drink the Champagne that Jann Wenner sent. James Gandolfini pulled out of appearing at a John McCain fund-raiser in New York because of "scheduling conflicts." Anderson Cooper thinks Britney Spears is underreported on.

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MEDIA
• Looks like the Fox Business Network has a shitload of work to do on their studio before launching next Monday. They've got the requisite bright-red circle hung above the anchor desk, but otherwise the floor's not even finished. NBC News, on the other hand, finally cut the ribbon on their new 30 Rock studio, which president Steve Capus compared to "the dance floor of the Stockholm Hilton." Was that supposed to be a compliment? [FishbowlNY/Mediabistro, TVNewser]
• Jan Wenner failed to lure Ed Felsenthal away from the Journal (and Portfolio) and had to settle for Brad Wieners as new editor at Men's Journal. Wieners has been acting editor since August, when James Kaminsky decamped for Maxim. [NYP]
• Poynter Institute: As a journalist, it's your "duty" to read the print newspaper. Unclear how that affects bloggers. [Poynter]

A-Rod and ur-agent Scott Boras dined at Nello's. Eva Mendes hopped in the wrong limo. New York's First Lady Silda Wall Spitzer told attendees of a More-magazine convention that the best advice she ever got was "either piss or get off the pot." Cisco Adler and Lydia Hearst were cozy at Bungalow 8. Jann Wenner was widely mocked at the 30th reunion party of the Rolling Stone staff from 1977 (everyone gave him the finger in the group photo, and no one drank the Champagne he sent). Joaquin Phoenix hung up on a reporter from Time Out after she asked him what he did to prepare for his roles. Single-again Nick Cannon hung out with a bunch of beauty-pageant queens at Tenjune.

LAW
• Highly paid associates are wasting lots of time on Facebook, to the tune of $50 million a year in hours the little bastards should be billing. [NYO]
• Cadwalader's bracing for a double whammy: While trying to deal with the massive slowdown in its core mortgage practice area, the firm's also facing a $70 million legal malpractice suit for mortgage warrantees from the late nineties. [Law.com]
• Michael Mukasey, attorney-general nominee and New York homeboy, is facing complaints that he used a U.S. marshal to take out the trash, and we don't mean that figuratively. [AP via Law.com]

Rumors of the demise of the John Mayer–Jessica Simpson relationship may be greatly exaggerated; the two spent Sunday night together at the Soho Grand. (Mayer is also still doing the stand-up comedy thing). Today show correspondent Jill Rappaport owns eighteen acres in the Hamptons. Johnny Damon hung out till 4:30 a.m. on Sunday morning, but he still hit a two-run double later in the day. Ivanka Trump and Zach Braff exchanged numbers. (Uh-oh. Does Jared Kushner know about this?) Warren Buffett, David Remnick, John Kerry, Ted Turner, and Jann Wenner, among others (ahem), were all rejected from Harvard. After asking for $5.5 million, Stone Phillips sold his penthouse on West 72nd Street for $4.35 million. Times managing editor Jill Abramson is suing the truck driver who ran over her foot.

Al Sharpton is planning on speaking out against rap music at this week's National Action Network convention, but Russell Simmons and other hip-hop execs are skeptical. The wife of Atlantic Records co-founder Ahmet Ertegun invited three of his alleged mistresses to today's funeral. Beyoncé is slated to make a lot of money after her current deal with Sony is up. Britney Spears may have fired manager Larry Rudolph, whom she blames for her recent career woes. Madonna went back to Malawi but insists she's not adopting another child. Bruce Willis is now seeing Courtney Love.

Has Jann Wenner been seeing Men's Fitness editor-in-chief Neal Boulton? (And what about poor Matt Nye? And what about Jann and Matt's new kid?) Tinsley, Fabiola, et al, are heading down to Turks and Caicos for a charity event. Speaking of Tinsley, she's been intentionally wearing the same dresses as movie stars in an effort to make the "Who Wore It Better?" feature of gossip mags. Noho sushi joint Bond St. reopens tonight. An ad for The Year of Magical Thinking running in both the Times and the Post implies the Times gave the show a favorable review. It didn't. Harvey Weinstein is looking to cast every actress and actor you've ever heard of for the film adaptation of musical Nine.

FASHION
• Gareth Pugh, the darling of London Fashion Week, has yet to turn his critical acclaim into commercial success  he hasn’t sold one dress. [British Vogue]
• Pete Doherty continues his rise from junkie rocker to fashion "It" boy as he graces the cover of this month’s Vogue Homme. [WWD]
• St. John's abandons its youth outreach program  sexier, fitted clothing modeled by Angela Jolie  and returns to its conservative, older-woman roots. [LAT]

There was one last big blowout to catch before Holiday Party Season 2006 wound down: The annual Wenner Media extravaganza. With the bank busted on Rolling Stone's 1,000th-issue celebration in May, this year's holiday gathering was less glitzy in the past, with no big-name musical act slated to perform. But that didn't stop indefatigable party reporter Julia Allison. Her wrap-up — her final wrap-up of the season — is after the jump.